The Australian Government is investing $91.7 million in a new technology platform to improve the way we administer $46 billion of funding each year to Australian schools and higher education institutions, optimising Australia’s education outcomes.
Australia’s schools and higher education institutions rely on consistent, accurate, and reliable payment of government funding. The Australian Government provides $28 billion for government and non-government schools and $20.7 billion to higher education providers annually. This funding supports the delivery of high-quality education for all students.
It is critical for the management of this $46 billion in funding to be supported by modern and fit-for-purpose technology and processes that are resilient, flexible and secure. The existing platforms used by the Department of Education to manage school and higher education funding is based on aging technology, as well as manual and other inefficient processes.
A new funding system is being developed to ensure the government continues to make accurate payments on time, to provide a streamlined experience in a more secure environment, and to reduce the existing administrative burden for schools and higher education providers.
Stronger, faster, more secure funding for Australia’s education providers
The Education Funding System (EFS) will deliver:
- automated workflows, leading to less manual and off system work
- an integrated and accurate entitlement calculation platform that can be configured to meet changing needs
- accurate and timely payments with inbuilt assurances
- a modern data and analytics platform that enables improved reporting
- modelling, assurance, and compliance processes
- a flexible and secure environment, that meets our cyber security obligations under Australian Signals Directorate’s Essential Eight.
The result will be a funding system that ensures payments are consistent, accurate and reliable, and a streamlined experience supporting education providers in delivering strong education outcomes, into the future.
